房地产行业周报（2024年第42周）：打出政策“组合拳”，重启城改货币化安置

Investment Rating - The report does not explicitly state an investment rating for the real estate industry Core Insights - The real estate sector has shown a positive performance with the Shenwan Real Estate Index rising by 2.96%, outperforming the CSI 300 Index by 1.98 percentage points [3] - The transaction volume of commercial housing in 30 major cities reached 2.67 million square meters, with a month-on-month increase of 130.7% and a year-on-year increase of 4.5% [3][12] - The Ministry of Housing and Urban-Rural Development introduced policies aimed at stabilizing the real estate market, including the implementation of 1 million sets of urban village renovations and dilapidated housing renovations through monetary compensation [3][31] Summary by Sections Section 1: Market Overview - The Shenwan Real Estate Index increased by 2.96% this week, while the CSI 300 Index rose by 0.98% [3][8] - The report highlights the performance of individual stocks within the sector, with the top five gainers being Everbright Jiabao, Guochuang High-tech, Xinda Real Estate, Yudai Development, and ST Guangwu [10][11] Section 2: Sales Overview - In the week of October 11-17, 2024, the transaction area of commercial housing in 30 major cities was 2.67 million square meters, with significant increases in first-tier cities [12][14] - The report also details the performance of second-hand housing, with a total transaction area of 2.83 million square meters in 17 monitored cities, reflecting a month-on-month increase of 109.7% [14] Section 3: Inventory and Depletion - The report provides data on the inventory and depletion cycles in major cities, indicating that Beijing, Shanghai, Shenzhen, and Guangzhou have varying depletion cycles, with Beijing at 23.82 months and Shanghai at 9.24 months [25][26] Section 4: Key News Tracking - The report tracks significant policy announcements, including the Ministry of Housing and Urban-Rural Development's introduction of a digital construction plan aimed at enhancing efficiency in the housing sector by 2027 [32] - Local governments, such as in Weifang and Baotou, have also announced measures to optimize real estate policies to stabilize the market [33][37]